An increase in ransomware attacks against healthcare organizations has increased the potential damages from cyber-attacks beyond the release of detailed customer data. Not only is the exposure increasing, but the need for comprehensive Cyber Risk Insurance is more important now than ever.
Directors & Officers (D&O) and Employment Practices Liability (EPL) insurance, also called management liability, is not just for large and publicly traded businesses – small businesses need management liability coverages as well.
A new survey of large companies on Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) provides some insights for small and medium sized companies.
Many different types of clients can have professional liability exposures, well beyond the typical lawyers, accountants and architects, and they will need professional liability insurance (E&O). And likely Cyber Risk Insurance.
Accountants are a prime target for cyber attacks because of the information they are required to maintain, and need comprehensive Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage). According to the IRS, this exposure is increasing, with targeted attacks ahead of key filing dates.